# Elasticity Suppose the weekly demand function for a product is given by p = 100e-0.1q where p is the price in dollars and q is the number of tons demanded. (a) What is the elasticity of demand when the price

Elasticity Suppose the weekly demand function for a product is given by

p = 100e-0.1q

where p is the price in dollars and q is the number of tons demanded.

(a) What is the elasticity of demand when the price is $36.79 and the quantity demanded is 10?

(b) How will a price increase affect total revenue?

p = 100e-0.1q

where p is the price in dollars and q is the number of tons demanded.

(a) What is the elasticity of demand when the price is $36.79 and the quantity demanded is 10?

(b) How will a price increase affect total revenue?

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**Related Book For**

## Mathematical Applications for the Management Life and Social Sciences

**ISBN:** 978-1305108042

11th edition

**Authors:** Ronald J. Harshbarger, James J. Reynolds

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